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STR: Preliminary November data for Sydney hotels

December 15, 2017 Hotel Trends No Comments Email Email

STR’s preliminary November 2017 data for hotels in Sydney, Australia, indicates significant occupancy and rate levels. http://www.granmonte.com/

Based on daily data from November, Sydney reported the following in year-over-year comparisons:

  • Supply: +3.7%
  • Demand: +2.7%
  • Occupancy: -1.0% to 90.8%
  • Average daily rate (ADR): +4.6% to AUD252.42
  • Revenue per available room (RevPAR): +3.6% to AUD229.22

Occupancy slipped slightly due to significant supply growth outpacing demand. Regardless, the market eclipsed 90% occupancy for the second November in a row. STR analysts also note that November is the 40th consecutive month of year-over-year ADR growth in Sydney.

STR will release full November 2017 results later this month.

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